When purchasing a product, a purchaser must first determine which product, including brand name, model, color and other features, best meets his needs. Once the purchaser has an established interest in purchasing a particular product, the purchaser typically visits, in person or by telephone, a few stores that sell the product to determine the best price. Once the best price is determined, all things being equal, the purchaser usually buys from the store selling this particular product at the best price.
Although visiting a dealer generally is a necessary element of the car purchasing process, many potential purchasers do not enjoy meeting with a sales person and having to negotiate a purchase. For example, a potential purchaser may want to first ascertain the various options and prices before discussing a purchase with a sales person.
In addition, visiting a dealer requires the purchaser to set aside at least a few hours of time. Even after visiting a dealer, however, the potential purchaser may not be totally comfortable in making a purchasing decision. For example, the purchaser may want to visit a number of other dealers to determine a competitive price for the particular car of interest. The purchaser, therefore, may visit a number of dealers that are within a reasonable distance from the purchaser's residence. Visiting many dealers usually requires a significant amount of time. It is not unusual for a potential purchaser to spend weeks visiting various dealers in an attempt to understand and locate the best deal.
Further, once a purchaser identifies a particular car, the purchaser then typically attempts to negotiate the best price from the dealer. These negotiations, for many purchasers, are the most difficult steps in the car purchasing process. Further, when coupled with options, factory invoice, advertised specials and volume buyer discounts, these negotiations may become complex and confusing.
In an attempt to assist car purchasers in the purchase of a new car, many types of services have been created. For example, magazines provide potential purchasers with detailed information regarding particular cars. Some services provide a wide variety of information accessible through a computer network such as Internet.
Known magazines and systems, however, generally do not fully facilitate negotiating the car price. For example, although the purchaser may be better informed, in general, about a particular car as a result of reviewing a particular magazine source, the purchaser may not be provided with the price or the detailed information with respect to cars readily available within a specific geographic region. In addition, in known magazines and “on-line” services, all pricing information is limited to “list” price and “invoice” price, and possibly a suggested discount percentage. Further, such systems do not provide a mechanism to allow a potential purchaser to “lock in” a final purchase price. Also, such magazines and systems do not eliminate the negotiation process and in some instances in which unrealistic expectations are created, may even make the negotiations more difficult.
Accordingly, it would be desirable and advantageous to provide a car exchange system which enables a potential car purchaser to easily and quickly review all options, factory discounts and other information regarding specific car configurations of interest in combination with final pricing information for cars in a particular geographic region. It also would be desirable and advantageous to eliminate the car purchase negotiation process by providing an exchange system which enables a potential car purchaser to ascertain the best price for a particular car and to “lock in” to a specific dealer offer via the system without having to make prior direct contact with a particular dealer.
An object of the present invention is to simplify and reduce the time required, for both the buyer and seller, in completing a vehicle sales transaction.
Another object of the present invention is to enable potential purchasers to quickly and easily ascertain dealer offers for the sale of cars in a particular geographic region of interest.
Still another object of the present invention is to provide a car exchange system which enables a potential car purchaser to easily and quickly review all options, factory discounts and other information regarding specific car configurations of interest in combination with final pricing information for cars in a particular geographic region.
Yet another object of the present invention is to provide an exchange system which enables a potential car purchaser to ascertain the best price for a particular car and to “lock in” to a specific dealer offer via the system without having to make prior direct contact with a particular dealer.